Royal Bank of Canada Issues Positive Forecast for Kayne Anderson BDC (NYSE:KBDC) Stock Price

Posted by Darlene League on Nov 19th, 2024

Kayne Anderson BDC (NYSE:KBDC – Free Report) had its price target raised by Royal Bank of Canada from $17.00 to $18.00 in a research report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Kayne Anderson BDC Price Performance

Shares of NYSE:KBDC opened at $16.46 on Monday. The stock’s 50 day moving average price is $16.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.53 and a current ratio of 1.36. Kayne Anderson BDC has a 12 month low of $15.69 and a 12 month high of $16.80.

Kayne Anderson BDC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.40 per share. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 9.72%.

Institutional Investors Weigh In On Kayne Anderson BDC

A hedge fund recently bought a new stake in Kayne Anderson BDC stock. BNP Paribas Financial Markets purchased a new position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,722 shares of the company’s stock, valued at approximately $44,000.

About Kayne Anderson BDC

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Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.